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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: dennis michael patterson who wrote (40528)	2/18/2000 12:46:00 AM
From: Michael Watkins	Read Replies (1) of 99985

SPX cash 1378 is pretty important too, SP futures already broke and closed below 1387, which I consider important. Seems highly likely that follow through on the SP will bring it back down to Jan 31 lows; if it happens in a hurry I can not imagine the Nasdaq continuing up. I think the Nasdaq weight will be the crushing cause. Interesting that low PE stocks are going to bring down the mighty Nasdaq (so it would seem at this writing). And I'm nervous.. have been since Jan 14/15 (a VIX reversal got me on the alert). Mind you, as of today I'm 100% in cash. Our CDNX small cap index in Canada has been acting like the biotechs of late... so I closed out my remaining fund that was in that space and went short the Canadian market. Think evil thoughts about oil and BCE/NT overnight for me please... Still waiting to press the trigger on the SP and ND futures tho. ;)

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